EchoOne fails to provide ownership or executive information on its website.

In an official marketing presentation, EchoOne cites “Nicholas Bennett” as its CEO:

Bennett doesn’t exist outside of this marketing slide. It’s unclear whether he’s an actual person.

Offical EchoOne marketing videos feature stock footage with robodub narration. This is typical of non-native English speaking admins. It also supports Nicholas Bennett not existing.

EchoOne’s website domain (“echoone.io”), was privately registered on August 21st, 2023.

As of November 2023, SimilarWeb tracked just ~1500 visits to EchoOne’s website.

40% of EchoOne website traffic originated from the UK, 36% was from the US, 14% from Canada and 10% from Hungary.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

MGM Capital (aka MGM Capital Traders), fails to provide ownership or executive information on its website.

MGM Capital’s website domain (“mgmcapital.co”), was registered in November 2022. The private registration was last updated on October 30th, 2023.

MGM Capital’s official Twitter profile was created in August 2023. As of September 13th, the company was still “coming soon”.

Despite only existing for a few months, on its website MGM Capital falsely claims to have “an aggregate expertise surpassing a hundred years”.

Of note is MGM Capital denoting its location on Twitter as the UAE. Typically this means Dubai, the MLM crime capital of the world.

Over on YouTube, MGM Capital has uploaded three marketing videos. The videos are hosted by a male going by “HappyMan”.

There is also an “MGMCapital” user on one of the webinars. The user has their camera disabled but, as above, it does turn on at least once during the broadcast.

I’m not 100% on his accent but HappyMan sounds like he’s from Malaysia or the Philippines (appreciate anyone able to confirm in the comments below).

In MGM Capital’s YouTube videos, “Sunshine Lee” is presented as CEO of the company.

Lee doesn’t exist outside of MGM Capital’s marketing but is represented on MGM Capital’s marketing webinars.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

The SEC is facing sanctions in its securities fraud case against Debt Box and iX Global.

In a nutshell, the SEC’s attorneys got some dates wrong with respect to when the Debt Box defendants began transferring investor funds out of the US to the UAE.

This led to a false sense of urgency, which the court factored in when it granted the SEC a TRO early on in the case.

Upon being made aware of the date errors, the court dissolved the granted TRO in October. Last month it also ordered the SEC to explain why it shouldn’t be sanctioned.

On December 21st the SEC filed its response. The regulator acknowledges it got dates wrong but also argues sanctions aren’t warranted. [Continue reading…]

Shao Bank has received a pyramid fraud warning from Russia.

As per the Central Bank of Russia’s December 21st warning, Shao Bank exhibits “signs of a financial pyramid” scheme. [Continue reading…]

All Capital operates from two known website domains:

• allcapital.io – privately registered on August 25th, 2023
• allcapital.world – privately registered on August 25th, 2023

On a marketing video, embedded into both of All Capital’s websites, “Dorfman” is presented as founder of the company.

Dorfman of course doesn’t exist outside of All Capital’s marketing. The actor playing Dorfman has an eastern European accent, making him a prime Boris CEO candidate.

In the marketing video Dorfman is interviewed by “Irene”, who also has an eastern-European accent.

Boris CEO schemes are typically the work of Russian and/or Ukrainian scammers.

We don’t have detailed stats for All Capital’s .IO domain but, for November 2023, SimilarWeb tracked ~440,000 visits to All Capital’s .WORLD domain.

34% of All Capital website traffic originated from the US, 22% from Ukraine, 15% from China and 9% from Saudi Arabia.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Ortus fails to provide ownership or executive information on its website.

Ortus’ has two known website domains:

• ortusgo.com – registered in September 2021, private registration last updated on September 14th, 2023
• goortus.com – registered in April 2021, private registration last updated on April 25th, 2023

Ortis’ locked down FaceBook page was created in August 2021. The page is run from South Africa, suggesting whoever is running Ortus is also based out of South Africa.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Simpy Bhardwaj, aka Simpy Gaur, has been arrested on charges related to the Gain BitCoin Ponzi scheme. [Continue reading…]

Ellev8 has received a securities fraud warning from New Zealand’s Financial Market Authority.

As per the FMA’s October 12th warning; [Continue reading…]

The Blockchain Era has received a “suspected Ponzi and pyramid scheme” warning from New Zealand.

As per the Financial Market Authority’s November 13th warning; [Continue reading…]

Banker Quotes has received a securities fraud warning from New Zealand’s Financial Market Authority.

As per the FMA’s December 12th warning; [Continue reading…]